ENDRA Life Sciences Inc. (NASDAQ:NDRA) Q4 2022 Earnings Call Transcript

Francois Michelon: Thanks Vernon. I hope that helps answer your question and appreciate your support.

Vernon Bernardino: It does and that’s a great idea. I’m looking forward to that. And you mentioned it’ll be a white paper, so I’ll look forward to that, I guess, sometime in the future. Thank you.

Francois Michelon: Thank you so much, Vernon.

Operator: The next question is from Edward Woo with Ascendiant Capital. Please go ahead.

Francois Michelon: Hi, Ed.

Edward Woo: Congratulations on your progress, you mentioned that you could get stands down to 10 minutes. Is that the best €“ in terms of ideal model or can you €“ is there more room for improvement?

Francois Michelon: I think the process will €“ continually improve the process as you normally do over the life cycle of a product, but we’re certainly happy with the consistency amongst users as Mike pointed out. And certainly the reduction in scan time, which by the way is even a 10 minutes early in the learning cycle really efficient if you compare that to an MRI, for example, which can be 30 to 40 minutes, for example. So 10 minutes, if that was as good as we could get it, I think would be absolutely wonderful in the marketplace on the front lines. But our goal is to continually improve them. I also don’t want investors to think that we’re going to be fiddling around with this, add in to item and delaying the de novo submission.

I think we’re at the point now where with this guidance that we will be able to collect the data we need for the de novo submission as quickly as possible and any additional improvements will be I would say icing on the cake. Mike, any thoughts to add to that as well?

Michael Thornton: Yes, maybe I’ll just add that the 10 minutes also includes the ultrasound exam to locate the measurement location and patient orientation and instruction. So I think we’re doing really well and our users are €“ and operators are performing absolutely fantastic job.

Francois Michelon: That’s great. Thanks. And Ed, I would also just mention that, we’ve started having users use portable ultrasounds. Historically, we’ve been very sort of tied to the radiology roots and cart-based ultrasounds, and I think our addressable markets and our clinical workflow were linked in inextricably to the large cart-based ultrasounds. But as probably many of our investors know those cart-based ultrasounds remain the workhorses of ultrasound. But the fast growth portability models in ultrasound are certainly something that we want to align ourselves with. And in some cases we’re finding that a portable ultrasound does the job just fine if the clinician wants to use that for our technology. So that helps open a few doors and reduce the capital expenses if they don’t already have an ultrasound very nicely. So we’re happy to see that it works across ultrasound models. Hope that answers your questions and more.

Edward Woo: Yes. And then my last question is congratulations on the renewal on GE HealthCare, in terms of €“ has it disagreement or extension changed at all? And what benefits have you seen working with them for so long on TAEUS?

Francois Michelon: Yes, thanks. So as many of our investors know we have a long history with GE. Many of our team, myself included, Mike Thornton, some of our board members worked at GE. And so there’s a lot of trust and relationship there. We signed a collaborative agreement with GE HealthCare in 2016, and at that time, the focus of the contract, which by the way, stays the same and includes the same elements that I’m speaking to. At the time in 2016, GE really helped us with our engineering thinking, the resources and capital equipment support to finalize the equipment, understand from their perspective some of the user needs and better help us understand the marketplace. Over time, that relationship has also expanded to introducing us to some of their radiology-based clinical users who have ultrasounds.